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Gazprom Share in Europe Market 34%

Gazprom Share in Europe Market 34%

The share of Russian energy giant Gazprom in the European gas market over the past year increased by three percentage points to reach 34%, CEO Alexei Miller said Friday at a meeting with Russian President Vladimir Putin. "We achieved record volumes of gas supplies to countries outside the former Soviet Union. In 2016, the increase was 12.5% (over the previous year), slightly less than 180 billion cubic meters of gas. Thus, over the past year, the share of Gazprom in the European market has reached 34%," Miller said, noting that this was a record performance, Sputnik reported. Russia's Gazprom Neft, the oil arm of gas giant Gazprom, also said on Friday it has launched two more production wells at Prirazlomnoye offshore Arctic oilfield. The number of production wells at the field, Russia's only offshore Arctic oil project, was increased to six, the company said. Oil flow rate at a new well has reached 1,760 tons per day.